| Founded | 2017 |
|---|---|
| Closed | 2022 |
| Country | USA |
| Sector | Crypto |
| Total raised | 864 |
| Collapse type | Bankruptcy |
| Founder | Alex Mashinsky |
Celsius Network
"A crypto lending platform promising "banking for the people" that secretly deployed retail deposits into catastrophically risky DeFi bets."
Key Events Timeline
Celsius Network attracted billions in crypto deposits by offering yields of up to 18% — rates made possible by deploying customer funds into high-risk decentralized finance protocols, risky collateralized lending, and speculative token strategies.
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